well me and dh plan to buy a house in april. in jacksonville nc, he is active marines. i was wondering if you guys can help me out. (dh wants to buy but he doest find info so i have to)
1) can i use the home owners tax credit towards my closing cost in nc?
2. if we get a loan for 150,000 and the house is only 143,000, can i use the reminder to use as closing cost?
3. does a va loan requiered i put a down payment and if so how much?
4. i heard that if a va appraisal is done then i dont have to pay for it is this true?
thanks for any help
Answer by RugersMommy06 at 11:22 AM on Feb. 17, 2010
Answer by MommaSteph85 at 11:27 AM on Feb. 17, 2010
Answer by piwife at 11:28 AM on Feb. 17, 2010
Answer by piwife at 11:31 AM on Feb. 17, 2010
Answer by Kari126 at 12:12 PM on Feb. 17, 2010
Answer by yourspecialkid at 1:49 PM on Feb. 17, 2010
Answer by MommaSteph85 at 12:25 PM on Feb. 18, 2010
Answer by piwife at 12:44 PM on Feb. 18, 2010
Answer by MommaSteph85 at 1:11 PM on Feb. 18, 2010
We did a VA loan 7 months ago. No you can't use the credit as down payment because you have to have it noted in county records, and your closing done. If the IRS gave it before and the offer fell through...many would take advantage. With a VA loan they will not allow you to finance more than what the house is appraised for. If seller is asking 143,000 and VA appraises at $125,000...that's all you will get and seller will have to drop the price. Down Payment: it depends on how you write your offer. We told our realtor we wanted nothing down, and pay nothing. We wrote that the seller paid all closing cost, funding fee's, appraisals, home inspections, taxes...anything possibly imagine up to a total of $8,000. Anything over that we would've had to pay. We ended up with extra and had them pay down points on our interest rate for our loan.
Answer by Anonymous at 4:27 AM on Feb. 20, 2010